India, Jan. 5 -- Agritech startup Unnati is set to acquire Info Edge-backed peer startup Gramophone.

In an exchange filing, Info Edge said its stake in Gramophone, which it holds through its wholly owned subsidiary Startup Investments (Holding) Ltd (SIHL) and currently stands at 39.58%, will increase to 50.94% prior to the transfer of the startup's shares to Unnati.

Following this, Info Edge said it will sell its entire stake in Gramophone in exchange for a 15.7% stake in Unnati.

Info Edge also plans to invest INR 35 Cr in Unnati post the acquisition, which will prop up its stake in the startup to 20.53%. However, it noted that this will eventually come down to 18.48% once all the shareholders of Gramophone also become shareholders of ...